Cognizant Technology Solutions (NASDAQ:CTSH) Given New $88.00 Price Target at UBS Group

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target cut by UBS Group from $93.00 to $88.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.50.

Cognizant Technology Solutions Stock Up 1.1 %

Shares of NASDAQ CTSH opened at $80.02 on Monday. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $90.82. The firm has a fifty day moving average of $82.46 and a 200-day moving average of $79.44. The stock has a market capitalization of $39.58 billion, a PE ratio of 17.74, a P/E/G ratio of 2.11 and a beta of 1.12. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, analysts anticipate that Cognizant Technology Solutions will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently modified their holdings of CTSH. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions in the fourth quarter worth about $28,000. Trust Co. of Vermont lifted its holdings in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions in the fourth quarter worth about $36,000. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the fourth quarter worth about $36,000. Finally, Spire Wealth Management lifted its holdings in Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.